![]() ![]() The solution enables customers from the U.S., U.K., and 18 other European countries to transfer money to Vietnam quickly using Visa Direct. For instance, in February 2021, MoneyGram International, a cross-border payment service provider, and Visa, a payment technology company, announced the launch of a real-time Peer-to-Peer (P2P) payment solution in Vietnam through Visa Direct. Various cross-border payment companies are making efforts to develop real-time P2P payment solutions by striking strategic partnerships with banks and financial service providers. The P2P segment is anticipated to register the highest growth rate over the forecast period. According to the statistics provided by Oberlo, a computer software company, mobile commerce sales were projected to reach USD 3.56 trillion in 2021, which was approximately 22.3% higher than the sales reported in 2020. The unabated growth of mobile commerce and e-commerce is a key factor driving the growth of the segment. ![]() P2B payments refer to monetary transactions between customers and businesses. The P2B segment dominated the market in 2022 and accounted for a 64.0% share of the global revenue. According to the global report of ACI Worldwide, Inc., a software company, more than 70.3 billion real-time payment transactions were processed globally in 2020, and a surge of 41% for real-time payments was observed during the COVID-19 pandemic. A myriad of unexpected issues, such as payment systems that involve physical touch, have prompted merchants and consumers to consider contactless payment solutions, such as smartphone-based apps designed to make contactless and real-time payments. The demand for real-time payment solutions has particularly increased in the wake of the COVID-19 outbreak. announced the launch of Request for Pay, which enables corporate clients to send a payment request to 57 million retail clients using their mobile app and website. Numerous fintech companies across the globe are developing real-time payment solutions to enable corporate clients to send payment requests to bank clients using mobile apps and websites. In December 2019, the Federal Communication Commission announced plans to launch a USD 9 billion 5G subsidy program for rural America. ![]() government announced an investment of USD 237.4 million in the 5G Testbeds and Trials program (5GTT), which aims to explore new ways to boost business growth in the country. Governments globally are investing in 5G infrastructure and subsidies to accelerate the adoption of digital payments.įor instance, in July 2020, the U.K. The continuous rollout of 5G network and high-speed broadband services worldwide bodes well for the market growth. For instance, in December 2019, the Japanese government announced plans to carry out the Cashless Japan initiative to double the number of digital transactions by 2025. Governments across the globe are taking initiatives to promote digital payments with an aim to increase the number of digital transactions in their respective countries. The incorporation of innovative technologies, such as Artificial Intelligence (AI) and IoT, in digital payment platforms, is also expected to contribute to the demand for real-time payment solutions.ĭigitization has resulted in the increased adoption of real-time payment solutions. In addition, the increasing demand from customers for quicker payment settlements and growing investments from financial institutes and governments to boost the adoption of real-time payment solutions are expected to accelerate the market growth. The market growth can be attributed to the high proliferation of smartphones and the adoption of cloud-based solutions for faster payments. The global real-time payments transactions volume was valued at over USD 100 billion in 2022. With incomparable operational capability, a comprehensive feature set, powerful reporting abilities and superior fail-safe data redundancy and data synchronization management, Volanté offers an integrated, enterprise system solution designed to raise the level of business practice.The global real-time payments market size was valued at USD 17.57 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 35.5% from 2023 to 2030. ![]() Whether it be changing a restaurant menu item or reformatting the layout of corporate reports, Volanté's engine gives users the flexibility to customize details to any specification. Simple to use, yet extremely powerful, Volanté's versatile architecture puts power at your fingertips. Developed from the ground up with state of the art technology, Volanté point of sale software will meet the most complex demands of diverse users today and well into the future. Volanté represents the next generation in enterprise POS management systems for the hospitality industry. ![]()
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